Acquisition, PDMR Dealings and Directorate Changes

RNS Number : 7036M

Surgical Innovations Group PLC

01 August 2017

 

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

Surgical Innovations Group plc

("SI" or the "Company")

Completion of Acquisition, Director/PDMR dealings and Directorate changes

Further to the announcements on 27 July 2017, SI is pleased to announce that, following admission to trading on AIM of the 245,833,333 New Ordinary Shares today, the acquisition of Elemental Healthcare Limited has now completed.

Following the completion of the Acquisition, Adam Power and David Marsh have been appointed to the Board in the roles of Group Development Director and Group Commercial Director, respectively. 

The information required under Schedule 2(g) of the AIM Rules in relation to the appointments is set out in Appendix I below.

The Company also announces that, following Admission, the subscriptions for New Ordinary Shares by certain existing Directors, as announced on 27 July 2017, have now completed.  Further information on these transactions is set out in Appendix II below.  The current shareholdings of each of the Directors who participated in the Fundraising and including the market purchases announced on 28 July 2017 are set out below:

Director	Holding of Ordinary Shares	% of Enlarged Share Capital
Nigel Rogers	4,803,863	0.62
Melanie Ross	1,573,710	0.20
Paul Hardy	6,730,185	0.86
Mike McMahon	18,504,737	2.37

Following Admission and the issue of the New Ordinary Shares, there are now 780,264,588 Ordinary Shares in issue.

Capitalised terms used but not defined in this announcement shall have the meanings defined in the announcement of the Acquisition, Vendor Placing and Subscriptions on 27 July 2017.

Contact details:

Surgical Innovations Group Plc	www.sigroupplc.com
Nigel Rogers, Executive Chairman	Tel: [phone]
Melanie Ross, COO & CFO
WH Ireland Limited (NOMAD & Broker)	Tel: [phone]
Tim Feather (Corporate Finance) James Sinclair-Ford
Walbrook PR (Financial PR & Investor Relations)	Tel: [phone] or [e-mail]
Paul McManus	Mob: [phone]
Lianne Cawthorne	Mob: [phone]

APPENDIX I

Adam Power, aged 53, is a director of Elemental Healthcare Limited.

Following Admission, Adam Power, together with his wife, Alison Power, holds 27,812,500 Ordinary Shares, representing 3.56% of the enlarged share capital.  In addition, Adam Power and Alison Power are interested in 3,437,500 Ordinary Shares, representing 0.44% of the enlarged share capital, as trustees of the Power Discretionary Trust.

David John Marsh, aged 52, is a director of Elemental Healthcare Limited and, within the last five years, was also a director of Alesi Surgical Limited.

Following Admission, David Marsh, together with his wife, Mary-Jane Marsh, holds 31,250,000 Ordinary Shares, representing 4.01% of the enlarged share capital.

In addition, Adam Power and David Marsh hold 1,000,000 options to acquire Ordinary Shares.  The options were issued in January 2013 and are exercisable between January 2018 and January 2023 at a price of 6.88p per Ordinary Share.

There are no further disclosures required under Schedule 2(g) of the AIM Rules

APPENDIX II

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Nigel Rogers
2	Reason for the notification
a)	Position/status	Executive Chairman, Surgical Innovations Group plc
b)	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Surgical Innovations Group plc
b)	LEI	2138004GHGUH3HUZE156
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of 1p GB0004016704
b)	Nature of the transactions	Purchase of Ordinary Shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 3p 710,385
d)	Aggregated information -     Aggregated volume -     Price	710,385 £21,311.55
e)	Date of the transaction	1 August 2017
f)	Place of the transaction	London Stock Exchange, AIM

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Melanie Ross
2	Reason for the notification
a)	Position/status	COO & CFO, Surgical Innovations Group plc
b)	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Surgical Innovations Group plc
b)	LEI	2138004GHGUH3HUZE156
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of 1p GB0004016704
b)	Nature of the transactions	Purchase of Ordinary Shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 3p 333,333
d)	Aggregated information -     Aggregated volume -     Price	333,333 £9,999.99
e)	Date of the transaction	1 August 2017
f)	Place of the transaction	London Stock Exchange, AIM

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Paul Hardy
2	Reason for the notification
a)	Position/status	Non-Executive Director, Surgical Innovations Group plc
b)	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Surgical Innovations Group plc
b)	LEI	2138004GHGUH3HUZE156
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of 1p GB0004016704
b)	Nature of the transactions	Purchase of Ordinary Shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 3p 1,538,990
d)	Aggregated information -     Aggregated volume -     Price	1,538,990 £46,169.70
e)	Date of the transaction	1 August 2017
f)	Place of the transaction	London Stock Exchange, AIM

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Michael McMahon
2	Reason for the notification
a)	Position/status	Non-Executive Director, Surgical Innovations Group plc
b)	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Surgical Innovations Group plc
b)	LEI	2138004GHGUH3HUZE156
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of 1p GB0004016704
b)	Nature of the transactions	Purchase of Ordinary Shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 3p 166,666
d)	Aggregated information -     Aggregated volume -     Price	166,666 £4,999.98
e)	Date of the transaction	1 August 2017
f)	Place of the transaction	London Stock Exchange, AIM

 

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